Reference & Enquiry – Two pillars of business networking

A successful business network has members actively referring each other. No opportunity is lost within the group. But does reference alone makes a networking group sail through. What is the role of the admins or managers of the group. Are there any guidelines or rules for members to follow. Is there any magic at work here?

What is a business enquiry

An enquiry about a product or service which a customer is about to buy is called a business enquiry. Inquiry is more of a formal investigation but enquiry is an attempt to gather information prior to making a buying decision. A person who makes enquiries does not mean that the deal is closed. But it is a sure shot way of knowing that the person has not made up his or her mind yet.

In business networking groups Enquiry and Reference work in a pair

A person who is planning to buy will look for a reference. Even during the modern times of E commerce, we look for references like star ratings and customer reviews. Our shopping app shows the latest trends and what other customers are buying. We look for bargains and offers. Opinion from others is sought before making our buying decisions.

Majority of people buy repeatedly from the same place. Buying decisions are taken in a group like for example a family. That is how when we are part of a business networking group, once we get a quality product from a member, the members do not look beyond the group.

Enquiries get taken care of faster in a larger group. Group members then sub consciously refer the other members in their immediate social circle. This leads to a chain reaction and ultimate explosion of business for each member and collectively for the group.

Emotional bonding and marketing

Any group, be it social, or extended family or business creates an instant bond between the members. Next, the members start promoting each other outside the group too. Like for example, a holiday package which goes well is put up on social media as a status update for a number of days. This generates curiosity with who so ever is seeing the status. The end game is that the business group in itself becomes a marketing platform.

One of the question which worries the admins is that when and how this bonding will form. It is just a matter of time, that this happens. Group heads wont even have to worry if all the members are participating and promoting each other. As per group dynamics, even if 60% of the members are active, they will form a bond with each other. 30% will remain fence sitters and 10% will be hardcore uncooperative members who will never promote others. The aim of each group should be to have a size large enough for the 60% to have its sway over the group.

Dynamic managers bring in business and sponsors

Once the group begins to sustain on its own. it is the duty of the managers to bring in some excitement from time to time. There is a really long list of activities that group incharges can indulge in.

• Sponsored Events
• Contests and giveaways
• Product demo and testing of free samples
• Visit to factory premises
• Educational tours
• Overnight gateways
• Group name branded T shirts and Track Suits
• Gift vouchers of shopping destinations
• Special movie screenings
• Tours and insights

What begins with members promoting each other finishes with the business enquiries pouring in from outside. The popularity of the group rises to an extent that it becomes the talk of the town and a toast for entrepreneurs.